Rockville , Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global bioinformatics services market is estimated to reach US$ 4.28 billion in 2024, according to a new report published by Fact.MR, a market research and competitive intelligence provider. Worldwide revenue from bioinformatics services is set to reach US$ 16.94 billion by the end of 2034.
In the past few years, there has been a noteworthy reduction in the prices of genome sequencing, especially because of technological advancements. Further, the easy availability of more efficient, advanced, and accurate systems at economical prices is predicted to stimulate the adoption of more advanced technologies. A constant reduction in the prices of DNA sequencing is forecasted to contribute to market growth.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9349
Increased demand for integrated data solutions for the management of data generated from high throughput sequencing and related technologies is predicted to open up profitable market opportunities in the coming decade. Growing adoption of integrated bioinformatics systems in genomics and proteomics is predicted to drive market growth. The high prevalence of infectious diseases and antimicrobial resistance is predicted to create health challenges, therefore generating demand for rapid drug development and, subsequently bioinformatics.
| Report Attribute | Details |
| Value Projection (2034) | US$ 16.94 Billion |
| Growth Rate (2024-2034) | 14.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global bioinformatics service market is pegged at US$ 4.28 billion in 2024.
- Worldwide demand for bioinformatics services is forecasted to reach a market value of US$ 16.94 billion by the end of 2034.
- The market is predicted to advance at a prolific CAGR of 14.7% from 2024 to 2034.
- North America is projected to account for 29.4% share of the global market by the end of 2034.
- The market in China is projected to expand at 17.1% CAGR and reach US$ 1.1 billion by 2034-end.
- Academic & research centers are estimated to account for 40.2% share of the global market in 2024.
“Reduced sequencing costs and rising application of bioinformatics in several industries, including forensics and bioremediation, are forecasted to contribute to revenue streams,” says a Fact.MR analyst.
Key Market Players
- Illumine, Inc.,
- Strand Life Sciences, Inc.,
- Thermo Fisher Scientific,
- CD Genomics,
- DNANEXUA, INC.,
- Biomax Informatics AG,
- Agilent Technologies, Inc.,
- Gener Codes Corporation,
- BGI Group,
- QIAGEN N.V.,
- PerkinElmer Inc.,
- Biomatters Geneious,
- Premier Biosoft,
- Creative-Biolabds,
- GSL Biotech LLC,
- DNASTAR,
- FIOS Genomics
Increased R&D Investments for Innovative Genome Sequencing in North America
Presence of a well-defined regulatory framework in North America is predicted to be responsible for the increased penetration of players. In addition, the development of various chemical laboratories and next-generation sequencing is predicted to aid market growth. Increased penetration of informatics services is predicted to lead to generating revenue streams for market players during the forecast period in North America.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9349
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the bioinformatics service market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on service type (sequencing, data storage & management, data analysis, drug discovery, others), application (drug development, molecular medicine, microbial genome applications, gene therapy, veterinary science, forensic analysis, others), and end use (academic & research centers, pharmaceuticals & biotechnology, and forensic laboratories, others), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Drug Discovery Services Market: The market for Drug Discovery Services is likely to be valued at US$ 50 Billion By 2032.
Bioinformatics Market: Demand for bioinformatics solutions is projected to reach a market value of US$ 50.25 billion by 2034-end.
Drug Discovery Technologies Market: The drug discovery technologies market is projected to reach US$ 81.5 billion by 2026.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
